Riversedge Advisors LLC Has $444,000 Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Riversedge Advisors LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,196 shares of the financial services provider’s stock after purchasing an additional 144 shares during the quarter. Riversedge Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC raised its holdings in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $34,000. Bare Financial Services Inc acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $35,000. Partnership Wealth Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $36,000. Finally, Davidson Capital Management Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $37,000. 71.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Stock Up 1.2 %

JPM opened at $224.80 on Friday. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $225.48. The company’s 50-day moving average price is $208.71 and its two-hundred day moving average price is $198.13. The stock has a market cap of $645.55 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.42 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The company had revenue of $50.80 billion for the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the firm posted $4.37 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.